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How to register a company in Sri Lanka

How to register a company in Sri Lanka

<img src="SriLanka_howto.jpg" alt="How to register a company in Sri Lanka"/>
How to register a company in Sri Lanka

We guide foreign entrepreneurs how to register a company in Sri Lanka, limited liability company (LLC), joint venture, branch office open and any business registration or licensing. 

Company Name Search

  • Search proposed company name to check existing or vacant said name in database of registrar of companies
  • If name is vacant, fill up form A 16 and apply to registrar of Companies
  • Pay the fees to counter or schedule bank of Rs. 1193 (eleven hundred ninety three)

Required forms to be filled

  • Form 01: Company Registration Purpose
  • Form 18: Directors’ consent letter
  • Form 19: Consent of secretary
<img src="SriLanka_Act7.jpg" alt="Required forms for business in Sri Lanka"/>
Required forms for business in Sri Lanka

Prepare Article of Association

  • As Company Act 7 of 2007, private limited company shall follow the clauses as policy of how to register a company in Sri Lanka:
  • Private limited company shall not offer public sharing
  • Number of partners shall be limited of fifty

Company Registration Fees

Public Notice

  • A public notice shall be published within registration of 30 (thirty) days mentioning the following:
  • Name of company shall be clearly written and company registration number as well
  • Clearly mention address of the company
  • Another advertisement shall be published in English newspaper

BOI permission

  • As foreign investment rules, BOI (board of investment) permission is required or may not depend upon business.
  • Project approval under section 16 and 17
  • Export and/ or import service is provided by BOI
  • Environmental clearance, visa facilities, industry setup permission
  • Tourism sector, export project, manufacture, training, agro, hospital, power, logistics, housing, telecommunication and site approval sectors are monitored from BOI and selective application will be submitted to BOI for approval of business.

Required documents to be forwarded

  • Fill up article of association in English language
  • List of the directors of the company
  • Authorized person’s name and address of company who will deal registration procedure
  • Clearly mention address of the company and principal name of company

Required investment capital for business in Sri Lanka: How to register a company in Sri Lanka !

  • Retail business is not allowed as law of Sri Lanka for the foreign investors
  • Starting wholesale business foreign investors have to bring US$ One million into bank account of Sri Lanka
  • Besides, BOI permission might be required
  • As multinational business policy foreign investors like to setup branch office of parent company in Sri Lanka. To do so, US$ 200,000 (two hundred thousand) have to inject into bank account of Sri Lanka. Further information, to register branch office some documents have to provide by the parent company, like certified company registration papers, income tax, audited accounts, directors’ consent & business activities.

Tax Certificate

  • Each private limited company shall be containing income tax certificate and number from inland board of revenue, Sri Lanka.
  • Company shall submit annual tax return and take clearance as regular basis.

VAT registration

  • Company/ business shall apply for VAT (Value Added Tax) certificate with supporting papers. VAR license is required for all companies.
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